Assenagon Asset Management S.A. Sells 84,613 Shares of Cooper-Standard Holdings Inc (NYSE:CPS)

Assenagon Asset Management S.A. lessened its stake in shares of Cooper-Standard Holdings Inc (NYSE:CPS) by 85.2% in the third quarter, Holdings Channel reports. The institutional investor owned 14,700 shares of the auto parts company’s stock after selling 84,613 shares during the period. Assenagon Asset Management S.A.’s holdings in Cooper-Standard were worth $601,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CPS. State of Alaska Department of Revenue increased its stake in Cooper-Standard by 134.1% during the third quarter. State of Alaska Department of Revenue now owns 12,983 shares of the auto parts company’s stock worth $530,000 after acquiring an additional 7,438 shares during the last quarter. Parallax Volatility Advisers L.P. increased its stake in Cooper-Standard by 106.9% during the second quarter. Parallax Volatility Advisers L.P. now owns 2,307 shares of the auto parts company’s stock worth $106,000 after acquiring an additional 35,631 shares during the last quarter. Harvey Partners LLC bought a new stake in Cooper-Standard during the second quarter worth approximately $2,016,000. Nuveen Asset Management LLC bought a new stake in Cooper-Standard during the second quarter worth approximately $3,789,000. Finally, Bank of America Corp DE increased its stake in Cooper-Standard by 50.6% during the second quarter. Bank of America Corp DE now owns 269,417 shares of the auto parts company’s stock worth $12,344,000 after acquiring an additional 90,525 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

In other Cooper-Standard news, SVP Song Min Lee bought 3,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was acquired at an average price of $33.27 per share, for a total transaction of $99,810.00. Following the completion of the transaction, the senior vice president now directly owns 16,784 shares of the company’s stock, valued at $558,403.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.30% of the stock is owned by insiders.

CPS has been the topic of several analyst reports. ValuEngine raised Cooper-Standard from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Roth Capital reissued a “buy” rating and set a $47.00 price objective on shares of Cooper-Standard in a research note on Thursday, September 26th. Finally, Buckingham Research cut Cooper-Standard from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $56.00 to $32.00 in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.75.

Shares of NYSE:CPS opened at $34.35 on Wednesday. Cooper-Standard Holdings Inc has a 1 year low of $30.82 and a 1 year high of $95.57. The business has a 50 day simple moving average of $39.23 and a two-hundred day simple moving average of $43.54. The firm has a market capitalization of $563.78 million, a PE ratio of 3.91 and a beta of 1.65. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.75 and a quick ratio of 1.49.

Cooper-Standard (NYSE:CPS) last announced its earnings results on Thursday, August 1st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.80). Cooper-Standard had a net margin of 4.47% and a return on equity of 7.13%. The business had revenue of $764.81 million for the quarter, compared to analysts’ expectations of $832.61 million. During the same quarter last year, the firm earned $2.74 EPS. The firm’s quarterly revenue was down 17.6% on a year-over-year basis. Equities research analysts expect that Cooper-Standard Holdings Inc will post 3.36 EPS for the current fiscal year.

Cooper-Standard Profile

Cooper-Standard Holdings Inc, through its subsidiary, Cooper-Standard Automotive Inc, designs, manufactures, and sells sealing, fuel and brake delivery, fluid transfer, and anti-vibration systems worldwide. It operates in four segments: North America, Europe, Asia Pacific, and South America. The company's sealing systems include dynamic and static seals, encapsulated glasses, stainless steel trims, flush glass systems, variable extrusions, and specialty sealing products.

Further Reading: Investing in Blue-Chip Stocks

Want to see what other hedge funds are holding CPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cooper-Standard Holdings Inc (NYSE:CPS).

Institutional Ownership by Quarter for Cooper-Standard (NYSE:CPS)

Receive News & Ratings for Cooper-Standard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cooper-Standard and related companies with MarketBeat.com's FREE daily email newsletter.